8 Pet Peeves Of Billionaires

On some level, we all aspire to be like the billionaires we read about and see on television. There’s a definite allure to Oprah Winfrey’s lifestyle, Bill Gates’ technology empire and Marc Zuckerberg’s social network (sorry, couldn’t help myself). There are countless sources of information on this elite class’s favorite things – actually, Oprah publishes her own list – but what about the things that make these people tick? We’ve all got our pet peeves, but these eight are surefire clues toward a path of less-than-billionaire-level-success. If you’re in the habit of doing any of these things regularly, you’re grinding a billionaire’s gears… and it’s time to step up your game.

Making excuses instead of delivering results. “The economy is still in a downturn” and “Our market is going through a major period of upheaval” are both true statements. However, if you’re using them to explain why your business isn’t performing to its potential, you’re simply making an excuse. If those statements are your sole rationale, how do you explain Apple’s hockey-stick growth trajectory? What about your competitor’s increased market share? Stop pointing fingers and shoulder the responsibility. Figure out where your soft spots are and work tirelessly to harden them for battle..

Light work ethic. If your day begins at 9 am and ends promptly at 5 pm with a happy hour, you’ve got no chance in today’s world of dizzying speed. Three-martini lunches won’t get the job done either. While you’re relaxing and reading news on your iPad over a cup of coffee in your robe, someone else is out-hustling you. They’ll put a bullet in your company before you’ve finished that long weekend at your friend’s lake house. Work harder. Make your competitors really feel your presence as you make – and leave – your mark.

A lack of grit and determination. If you sulk in a corner when you’re turned down, there won’t be any room for you at the top. When you’re told “no,” remember that feedback is a gift. Use it to your advantage, deep in the trenches. Figure out how to tell your story better, make your relationships stronger, and get to a positive response faster. The best entrepreneurs are street fighters, ready and willing to do whatever it takes to make their company thrive. As a leader, you must espouse this “down and dirty” mentality to your employees: if you haven’t exemplified this, why should they buy into it?

Wasting time. Don’t get me wrong, that picture is hilarious, and that YouTube clip had me rolling, too. Spending countless hours planning the holiday party will certainly make for a lovely evening. Take a step back and ask yourself how you’re spending your day. If you have a list of three major tasks that need to get done over the next 10, 30, 60 days, how are you prioritizing your time to make sure they’re completed to the best of your ability? Organize your day accordingly and focus on the tough stuff – the holiday party should be an afterthought, not because it’s not important, but because it’s not what’s keeping you up at night.

Lacking a commitment to excellence. We become most like the five people we surround ourselves most closely with, in our personal lives. Companies are no different – they’re only as strong as the weakest link. Hiring people with a shared sense of values is paramount: whether you’ve got five people on your team or 5,000, the people on your team are your biggest asset.

Settling. A so-so product that you know is only average (at best) should never leave your office. Demand better outcomes from your teams: people that you know can do better. If you continually push your teams to reach their full potential and seize every opportunity as if there won’t be another chance, your work product will continually improve, as will your strengths as a leader. As soon as you settle, you’ll be outdone by someone who hasn’t.

Blending in. Following the herd is a really simple way to be complacent, develop a ho-hum product, and establish zero sense of competitive advantage. If you want to set yourself apart, make sure you are zagging when everyone else is zigging. Your very first question when starting a business should be, “How am I different from my competitors? How can I set myself apart?” Until you have a strong answer for this question, don’t bother doing anything else.

Selfishness. Nobody became a billionaire without help along the way. Just as it takes a village to raise a child, it takes a community to build a business and solidify a leader’s place within it. Without this help (both in effort and finances), a successful person wouldn’t be where they are today. The world’s most successful have outwardly expressed gratitude for this assistance by giving back, now that they’re in a position to do so on a grand level. Many of the world’s richest individuals have signed the “Giving Pledge,” conceptualized by Warren Buffett and Bill Gates. If you’re a startup without much disposable revenue to give charitably, consider spending a day with your team to help with a community service project. There are ways to be selfless, regardless of how thick your pocketbook might be. You can always do well by doing good.

Nobody got to the top of the Forbes 400 list by putting in minimal effort and crossing their fingers, hoping for a stellar result. By the same token, no company has been an “overnight” success – that myth is quickly dispelled by a ruthless attention to detail, work ethic of a boxer training to make weight, and commitment to thinking differently, never swaying from the vision. Envision what your own success story looks like, and seize every opportunity on the way to make that happen. What are you waiting for?

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